Kuala Lumpur, May 24 – Bursa Malaysia closed broadly lower today as the market breadth remained negative with losers outpaced gainers. The FBM KLCI closed in negative territory tracking the performance of Asian stocks as investors remained cautiously pessimistic over over rising inflation and the global economic outlook. Asian stock markets swung into the red at the closing as weak overnight earnings from social media group Snap intensified nerves about the global growth outlook, despondent business confidence and also Japan’s PMI grew at the slowest pace in three months in May amid supply bottlenecks. Meanwhile, markets may take in some comfort from U.S. President Biden’s comment on his consideration of easing tariffs on China, and China’s promises of stimulus.
** The FTSE BM KLCI declined 11.23 points or -0.73% at 1,531.30 .
** The FTSE BM KLCI opened at 1,547.84 . The index fluctuated between 1,532.32 – 1,547.84 .
** 247 counters are gainers, 406 counters are unchanged, while 696 counters are losers.
** Total volume of 3,598,471,700 shares changed hands; while Turnover of RM2,092,673,442.
** The Top 5 Gainers : NDX-H1 (1.68, +0.19) ; F&N (20.72, +0.16) ; LEESK (0.83, +0.16) ; BJFOOD (4.35, +0.15) ; QL (4.88, +0.15)
** The Top 5 Losers : NESTLE (133.30, -0.90) ; MPI (30.04, -0.76) ; HENGYUAN (6.60, -0.70) ; PETRONM (6.70, -0.53) ; KLK (25.90, -0.52)
** The Top 5 Most Active Stocks : GPACKET (0.08, -0.015) ; MNC (0.015, UNCHANGED) ; SAPNRG (0.085, UNCHANGED) ; KNM (0.155, -0.04) ; CNERGEN (0.10, -0.01)
** Singapore’s Straits Times Index (STI) dropped 13.44 points or -0.42% to 3,200.21 ; Hong Kong’s HSI shed 357.96 points or -1.75% at 20,112.10 ; Japan’s Nikkei 225 declined 253.38 points or -0.94% at 26,748.14 ; and Korea’s KOSPI down 41.51 points or -1.57% to 2,605.87 ; Shanghai’s SSE Index retreated 75.93 points or -2.41% at 3,070.93; Australia’s All Ordinaries dropped 25.70 points or-0.35% to 7,373.20
